Oil Market News, OPEC+, sanctions and price shocks

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• Oil prices traded higher as tanker traffic through the Strait of Hormuz remains at a near standstill.
• Supply disruptions in Saudi Arabia have also raised production concerns.
• Saudi Arabia’s key pipeline to the Red Sea was struck in an attack blamed on Iran.

U.S. oil climbs above $100 as U.S.-Iran ceasefire fails to boost tanker traffic via Strait of Hormuz

U.S. President Donald Trump on Thursday warned Iran to "stop now" if it was charging tankers to transit the Strait of Hormuz.

www.cnbc.com

 

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EU Payments for Russian Yamal LNG Hit €2.88 Billion in Q1 as War-Driven Price Spike Boosts Kremlin Arctic Revenues

The European Union remained the dominant buyer of Russia’s Yamal LNG in the first quarter of 2026, paying an estimated €2.88 billion as a war-driven spike in gas prices boosted Kremlin revenues. Moscow also benefited from surging Arctic oil prices and stepped up efforts to expand the buyer base...

en.highnorthnews.com

 

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How Iran’s Dark Fleet Is Quietly Keeping Oil Markets Afloat | OilPrice.com

Iran’s “dark fleet” is quietly sustaining global oil flows despite visible disruptions, with exports still near pre-war levels and masking the true supply picture.

oilprice.com

 

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Saudi Arabia Says East-West Pipeline Restored To Full Capacity

By Clara Ferreira Marques Apr 12, 2026 (Bloomberg) –Saudi Arabia has restored the full pumping capacity of its East-West pipeline to 7 million barrels a day, rehabilitating a vital link for...

gcaptain.com

 

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Trump’s blockade brinkmanship fuels oil surge - Splash247

Global oil markets surged back above the $100-per-barrel mark on Monday as the eighth week of the Hormuz crisis opened with a dramatic escalation – the United States formally implementing a naval blockade of Iranian ports and the collapse of weekend peace negotiations in Islamabad dealing a...

splash247.com

 

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China Has Turned To Central Asia To Mitigate Middle East Oil Supply Risk | OilPrice.com

The Iran war is triggering a global energy and supply chain crisis, disrupting key chokepoints like the Strait of Hormuz and forcing countries to rethink energy security

oilprice.com

 

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IMF Warns Against Fuel Hoarding as Reality of Oil Supply Cut Sets In

Following news of a collapse in talks between the U.S. and Iran last weekend and the launch of a new U.S. Navy blockade at the Strait of Hormuz, oil...

maritime-executive.com

 

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From Fiestas To Ferraris, Britain's Fuel Shock Has Rich And Poor Stealing Petrol<!-- --> | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

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Time to Plan for Months of Oil, Gas Shortage | OilPrice.com

Even in a best-case scenario, restoring production will take months, with full normalization potentially delayed until late 2026.

oilprice.com

The Oilfield Service Crunch Is Here | OilPrice.com

A sustained oil supply shock and higher prices are rapidly reigniting U.S. drilling activity, reversing earlier expectations of a muted shale response.

oilprice.com

 

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Op-Ed: Mideast Conflict Provides a Test of Economic Resilience

[By Adi Imsirovic and Antonio Fatas]The world economy survived the shocks of the Ukraine-Russia conflict, which has had limited impact on economic gr...

maritime-executive.com

 

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$30M an hour: Big oil reaping huge war windfall from consumers, analysis finds​

The world’s top 100 oil and gas companies banked more than $30m every hour in unearned profit in the first month of the US-Israeli war in Iran, according to exclusive analysis for the Guardian. Saudi Aramco, Gazprom and ExxonMobil are among the biggest beneficiaries of the bonanza, meaning key opponents of climate action continue to prosper.

The conflict pushed the price of oil to an average of $100 (£74) a barrel in March, leading to estimated windfall war profits for the month of $23bn for the companies. Oil and gas supplies will take months to return to pre-war levels and the companies will make $234bn by the end of the year if the oil price continues to average $100. The analysis uses data from leading intelligence provider Rystad Energy, analysed by Global Witness.

More:

https://www.msn.com/en-us/news/worl...s-analysis-finds/ar-AA20WGYP?ocid=socialshare

 

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When the media use the term "unprecedented" but it's out of context, you can bank on deliberate criminality

Explosions as one of Australia's two oil refineries erupts in flames

An "unprecedented" fire has broken out at one of Australia's two operational oil refineries, with residents in parts of Geelong told to stay indoors due to smoke.

www.abc.net.au

 

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Unprecedented —

"It was burning in an area of approximately 30 metres by 30 metres. There have been several small explosions."

Huh? That's Unprecedented??

 

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Unprecedented —

Huh? That's Unprecedented??

My business is a supplier of DG rated instruments to the refinery owner, my contact there said that the fire was deliberately triggered and that they are filing an insurance claim for the batch of gear we supplied two months ago.

 

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US-Sanctioned Supertankers Enter Gulf Despite Blockade

A second U.S.-sanctioned supertanker has entered the Gulf via the Strait of Hormuz, shipping data showed, despite a U.S. blockade on vessels visiting Iranian ports.

gcaptain.com

Iran War Pushes U.S. to Brink of Net Oil Exporter Status Not Seen Since WWII

The U.S. nearly turned into a net crude exporter last week for the first time since World War Two as shipments surged close to a record high to meet demand from Asian and European buyers scrambling to replace Middle East supplies cut by the Iran war.

gcaptain.com

 

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Oil Market Report - April 2026 – Analysis - IEA

Oil Market Report - April 2026 - Analysis and key findings. A report by the International Energy Agency.

www.iea.org

 

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